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Snap Shares Slump Further

Snap is hoping for a turnaround in its fortunes this week after its shares fell more than 14 percent to a record low on Friday.

The downturn came after the messaging app Snapchat’s daily active user growth missed expectations for the second quarter in a row.

Snapchat’s Q2 daily active users rose 21 percent to 173 million from a year earlier, but was short of the 175.2 million expected by analysts. n comparison, Snapchat’s main rival Instagram Stories had more than 250 million users as at the start of August.

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